Microsoft Excel
Armyone123
ExcelProject1.xlsxNOI
| 2018 Rental Assumptions | 2018 Operating Expense Assumptions | Extra Credit | ||||||||||||||||||
| Unit Type | Rent /Month | # of Units | RSF per Unit | Total RSF by Unit Type | Expense | 2018 | Expense Rate | Per | Mortgage Finance | |||||||||||
| 1 Bedroom | $1,500 | 4 | 830 | Taxes | $0 | $1.3767 | Residential RSF / year | Purchase Price | $6,100,000 | |||||||||||
| 2 Bedroom | $2,100 | 10 | 995 | Insurance | $400 | Residential Unit / year | Down Payment Rate | 45% | ||||||||||||
| 3 Bedroom | $2,700 | 6 | 1,475 | Repairs & Maintenance | $120 | Residential Unit / month | Down Payment | |||||||||||||
| Small Commercial | $3,200 | 3 | 1,200 | Utilities | $0.40 | Per Common SF / month |
Nicole Adams User: Nicole Adams User: All tenants pay their own utilities. But owner pays $0.40 per sf per month for the 1200 sf of common area space of the building (lobby, hallways, elevator, exercise room, etc.). | Loan Amount | ||||||||||||
| Large Commercial | $4,400 | 1 | 2,100 | Legal | $3,000 | $3,000 | Year | Annual Interest Rate | 3.125% | |||||||||||
| Total | 24 | Accounting | $2,400 | $2,400 | Year | Loan Term (years) | 30 | |||||||||||||
| Janitorial Cleaning | $150 | Day of Cleaning |
Nicole Adams User: Nicole Adams User: A cleaning company cleans the 1200 sf common area twice per week at a rate of $150 per day. Enter the annual cleaning expense, assuming 52 weeks in a year. | Monthly Debt Payment | ||||||||||||||||
| Management Fees | 5% | Dollar of Base Rent / year |
Nicole Adams User: Nicole Adams User: Mgmt. fees are 5% of base rent | Annual Debt Payment | ||||||||||||||||
| Residential Rent Increase | 2% | Annually | Elevator Maint. | $800 | $800 | Year | ||||||||||||||
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Nicole Adams User: Nicole Adams User: You have an annual maintenance plan with the manufacturer. $800 per year for 10 years. | Commercial Rent Increase | 10% | Every 5 Years | Security | $10 | Hour | ||||||||||||||
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Nicole Adams User: Nicole Adams User: You employ 2 doormen each day, one for an 8am-4pm shift and the other between 4pm-12midnight. Each one spends an 8 hour shift each day, 6 days per week. Assume 52 weeks per year and $10/hour wage for each doorman. | Brokerage Fee - Residential | Monthly Rent | Every 2 Years | |||||||||||||||||
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Nicole Adams User: Nicole Adams User: Assume residential unit turnover every 2 years, calculated as 1 month rent per unit. | Vacancy & Collection Loss | 4.5% | Annually | Brokerage Fee - Commercial | 5% | Total Lease Base Rent | ||||||||||||||
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Nicole Adams User: Nicole Adams User: Commerical leases are for 5 years each. So the brokerage fee for each unit is 5% of the total base rent for the entire lease period. Hint: a brokerage fee for the commercial units will only be paid out in Year 1 and Year 6. | Capital Reserves | $0.50 | RSF | |||||||||||||||||
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Nicole Adams User: Nicole Adams User: 50 cents per rentable sf |
Nicole Adams User: Nicole Adams User: As the building owner, you obtain insurance at a rate of $400 per unit. Commercial units pay their own insurance. So you only pay insurane on the residential units. |
Nicole Adams User: Nicole Adams User: Commercial units pay for their own repairs and maintenance. You assume that each month, there will be a repair expense of $120 for half of the residential units. | Income | |||||||||||||||||
| Unit # | Unit Type | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |||||||||
| Unit 1A | 1 Bedroom | |||||||||||||||||||
| Unit 1B | 2 Bedroom | |||||||||||||||||||
| Unit 1C | 2 Bedroom | |||||||||||||||||||
| Unit 1D | 3 Bedroom | |||||||||||||||||||
| Unit 2A | 1 Bedroom | |||||||||||||||||||
| Unit 2B | 2 Bedroom | |||||||||||||||||||
| Unit 2C | 2 Bedroom | |||||||||||||||||||
| Unit 2D | 3 Bedroom | |||||||||||||||||||
| Unit 3A | 1 Bedroom | |||||||||||||||||||
| Unit 3B | 2 Bedroom | |||||||||||||||||||
| Unit 3C | 2 Bedroom | |||||||||||||||||||
| Unit 3D | 3 Bedroom | |||||||||||||||||||
| Unit 4A | 1 Bedroom | |||||||||||||||||||
| Unit 4B | 2 Bedroom | |||||||||||||||||||
| Unit 4C | 2 Bedroom | |||||||||||||||||||
| Unit 4D | 3 Bedroom | |||||||||||||||||||
| Unit 5A | 2 Bedroom | |||||||||||||||||||
| Unit 5B | 2 Bedroom | |||||||||||||||||||
| Unit 5C | 3 Bedroom | |||||||||||||||||||
| Unit 5D | 3 Bedroom | |||||||||||||||||||
| Unit G1 | Large Commercial | |||||||||||||||||||
| Unit G2 | Small Commercial | |||||||||||||||||||
| Unit G3 | Small Commercial | |||||||||||||||||||
| Unit G4 | Small Commercial | |||||||||||||||||||
| Total Base Rent | ||||||||||||||||||||
| 2% | Percentage Rent | |||||||||||||||||||
| Potential Gross Rent | ||||||||||||||||||||
| Less: Vacancy & Collection Loss | ||||||||||||||||||||
| Effective Gross Rent | ||||||||||||||||||||
| Expenses | ||||||||||||||||||||
| % Increase or Fee | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||||||||||
| Use Hlookup | Taxes | |||||||||||||||||||
| 3% | Insurance | |||||||||||||||||||
| 3% | Repairs & Maintenance | |||||||||||||||||||
| 3% | Utilities | |||||||||||||||||||
| 3% | Legal | |||||||||||||||||||
| 3% | Accounting | |||||||||||||||||||
| 3% | Janitorial Cleaning | |||||||||||||||||||
| 5% | Management Fees | |||||||||||||||||||
| 0% | Elevator Maint. | |||||||||||||||||||
| 3% | Security | |||||||||||||||||||
| 1 month | Brokerage Fee - Residential | |||||||||||||||||||
| 5% | Brokerage Fee - Commercial | |||||||||||||||||||
| 3% | Capital Reserves | |||||||||||||||||||
| Total Expenses | ||||||||||||||||||||
| Net Operating Income | ||||||||||||||||||||
| Total Debt Service | ||||||||||||||||||||
| Cash Flow After Debt Service | ||||||||||||||||||||
| * Additional Notes | ||||||||||||||||||||
| Large Commercial Tenant Sales Projections | 520000 | 530000 | 550000 | 545000 | 548000 | 580000 | 595000 | 610000 | 625000 | 640000 |
Taxcast
| TAXCAST | ||||||||||||||
| Jersey City - Income and Property Tax Schedule | ||||||||||||||
| 2018-2030 | ||||||||||||||
| * subject to change | ||||||||||||||
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | ||
| Income Tax Rate (per $100,000 earned) | $ 7,844 | $ 7,962 | $ 8,081 | $ 8,202 | $ 8,325 | $ 8,450 | $ 10,050 | $ 10,251 | $ 10,456 | $ 10,665 | $ 10,878 | $ 11,096 | $ 11,318 | |
| Property Tax Rate (per Sq. Ft.) | 1.3767 | 1.3836 | 1.3905 | 1.3975 | 1.4044 | 1.4115 | 1.7500 | 1.7675 | 1.7852 | 1.8030 | 1.8211 | 1.8393 | 1.8577 |
